detitle, forclosure

[rayar]

When I financed my house I had to contact the DMV and state treasurer and allthough I couldn't find proof that the house has been detitled I was told that if I only recieve one tax bill for the home and land then it has been detitled. I had the treasurer send me a statement to that fact and it was good enough to get it financed.

I was laid off 2 years ago and 1 year ago I had to have brain surgery for a bilateral subdural hematoma and allmost died. I am doing fine now and I am also back to work but you can imagine the amount of bills I had because of it. I have been talking with the bank since November(before I got behind) about getting some help, either in the form of a forbearance for a few months or a modification. It took 2 1/2 months to get back to me when they said they could do a modification as long as got caught up on the payment I was behind. They saw my bank statements and knew that I was in no posistion to get caught up but that in itself is another story. The fact is I tried to get help before I got behind and they drug their feet about it. I have told them I won't be able to get caught up so do what they need to.

Now I am 3 months behind and the bank has started the forclosure procedure(they didn't drag there feet on that). I have been contacted by the bank and told the house needs to be detitled, not only that but it seems like the bank is NOW willing to work with me. I am thinking that the bank realized that if the house is not detitled, they made a huge mistake when they gave me a loan and without the house being detitled it will be a huge ordeal to forclose on so it would be in their best intrests to try to work something out with me. I am not trying to get revenge or save my house but if it is something that can delay the forclosure for a few months then I would like to know.

[David Oxhandler]

It is possible, but not likely that the title issue has made some difference. If that is so you are very lucky. You need to stop taking your relationship with the bank personally. You can rest assured that there is no individual at the bank who has given your situation a second thought. At this point in time they have an insane number of accounts behind in their payments. To them you are just another borrower in default and a business problem.

There could be any number of reasons that the bank SEEMS to have a change of heart. There are several states that now require banks to negotiate with home owners and show the courts they have made a sincere effort to keep the home owner in the home. There are more foreclosures than the banks can drag through the courts or resell. Some banks have taken a lot of bad press for sloppy legal work in their foreclosures. Other big banks have been recently sited for violating the rights of active armed forces personnel and illegally seizing their homes while they are in war zone rotation. Thes banks are trying to re-frame their public image.

It is most likely that your account has reached a point where it is behind long enough to be bumped to the pre-foreclosure department, where they might have a different attitude and take a last stab at saving your business deal with them.

Forget about feeling ignored or slighted. This is not a struggle between you and the bank. This is a business deal. Take advantage of the situation, negotiate in good faith, SAVE YOUR HOME.